The former member of Russia's upper house of Parliament was accused along with 12 others of forming a criminal enterprise responsible for the deaths of dozens of people, The Moscow Times reported Wednesday.
In addition, Izmestyev was accused of underpaying taxes for his oil company by more than $95 million.
He has denied the charges and said his prosecution was linked to his refusal to sell a Moscow area mansion located near the prime minister's residence.
Human rights groups published a letter to President Dmitry Medvedev last week saying Izmestyev was innocent and had been denied a fair trial.
Izmestyev moved to Switzerland in 2006 after serving five years in the Russian Federation Council.
He was detained during a trip to Kazakhstan in 2007 and extradited to Russia.